Internet search for an article about recent market activity that demonstrates how the interaction of supply and demand have affected the market price and quantity of a good or service.

Begin with an overview/summary of the article, and then post in the 11 steps (below) and write the analysis after each step. Develops each point with specific details. Answers questions completely.

The steps are:

1. What is the starting situation?
2. What is the change in the situation?
3. Does it affect Demand or Supply?
4. Has it caused a movement along the curve, or a shift of the curve? (movement is caused by a price change and shift is caused by OTHER factors))
5. If it is a movement, is it up, or down the curve?
6. If it is a shift of the curve, did the curve shift to the left or to the right?
7. What reaction did this cause in the other curve?
8. What is the final change in the equilibrium point?
9. Is the final price higher, or lower?
10. Is the final quantity higher, or lower?
11. Answer any special questions.

No Graphs.

HINT: It will be a lot easier to choose an example with only one curve shifting.

The Khan Academy Videos: Microeconomics does a great job of walking through the model.

https://www.khanacademy.org/economics-finance-domain/microeconomics